IFS to participate in electronic shopping project

IFS International Inc. (NASDAQ: MNYC), a North Greenbush software developer, will participate in a Japanese project to promote electronic shopping. Japan's Ministry of International Trade and Industry has established the large-scale Smart Commerce Japan project to promote a platform for global electronic commerce using the latest payment technologies. IFS will provide the electronic funds transfer management system to support the use of VISA Cash "smart cards" for the project. Each VISA Cash card is embedded with a microchip that is able to store monetary value. Each time the card is used, value is deducted from the chip. Cardholders can use VISA Cash to make purchases at any participating merchant.